KEC International Q2 net up 34 pc on better project execution

MUMBAI: Engineering company KEC International has reported a 34 per cent increase in net profit at Rs 22.09 crore in the second quarter ended September 30 on better execution of projects.

The RPG Group firm had posted Rs 16.48 crore profit in the corresponding quarter of last fiscal.

Net sales for Q2 stood at Rs 1,778 crore as against Rs 1,668 crore in the same quarter of the previous year, registering an increase of 6.6 per cent.

"The growth in profit is a reflection of our better execution performance in the transmission business and increase in sales," KEC Managing Director and CEO Ramesh Chandak told PTI.

KEC is engaged in businesses of power transmission, power systems, cables, railways, telecom and water, and is present in 50 countries across Africa, Americas and Asia.

"The contribution of overseas business in the revenues was nearly 48 per cent during the quarter. Given our reach in the international market, we expect to close the fiscal with 50-55 per cent share (in revenues) from overseas," he said.

The firm bagged Rs 755 crore worth of orders in various verticals from the international markets, including Saudi Arabia, the US, Mexico, Brazil, Bangladesh and Cambodia, during the quarter under review.

With these, KEC's current order-book stood at Rs 10,200 crore, of which 54 per cent is from outside India.